The US. Government will reportedly spend over $300 million on the second inauguration of Barack Obama.

The US. Government will reportedly spend over $300 million on the second inauguration of Barack Obama.

President Obama’s first inauguration cost the government $200 million, but The White House wants to set the record yet again. “President Obama is the greatest President in the history of the country, and we need to spend as much as we can to celebrate that fact,” said a White House insider. “We wanted to spend a billion dollars, but we know that a lot of people are suffering in the country, so we restrained ourselves a little bit.”

The actual swearing-in ceremony will cost $2.24 million, according to Yolanda Forstman, spokeswoman for the Joint Congressional Committee on Inaugural Ceremonies.

It’s the security, parties and countless Port-a-Potty rentals that really run up the bill.

The federal government estimates that it will spend roughly $149 million on the inaugural weekend. Washington, D.C., Virginia and Maryland have requested another $51 million from the federal government to help pay for their share of police, fire and medical services.

And then there is the party bill.

“We have a budget of roughly $100 million, maybe a little bit more,” said a spokeswoman for the inaugural committee.

In comparison, George W. Bush’s first inauguration cost $42.3 million and his second came in at just under $30 million. Bill Clinton’s first inaugural was $33 million and his second inauguration was $31 million.

“Those Presidents didn’t know how to party. We do!” said a White House press secretary.

In addition, the White House is selling tickets to the inauguration. You can no longer just go for free. Tickets are being sold for $40 each (face value), but on StubHub they are going for over $200 already. “Hey, we want to make some money to help pay for Jay-Z and Bruce,” said the inaugural chairman.

“The money is going toward providing events which we hope are going to connect people, make them feel like we are all in this together and reinforce the notion that when we pull together, we’re stronger,” the spokesman siad “And we need to pull together to face the challenges that are before us today.”

Among the expenses: a Bruce Springsteen concert, a One Direction concert (for Sasha and Malia), the parade, large-screen TV rentals for all-free viewing on the national Mall, $700,000 to the Smithsonian Institution to stay open and, of course, the balls, including three that are being pitched as free or low cost for the public. Jay-Z and U2 will be playing and both will be paid over $2 million for their services. Bruce is playing for free.